Schneider Electric, Paris, has agreed to acquire all of the common shares of Xantrex Technology Inc, Vancouver, British Columbia.
The transaction is expected to close by October 2008.
Xantrex is a top global player in the solar and wind inverter market with strong growth potential, including leadership in the North American solar inverter market; positions in key European markets, especially Germany and Spain; broad product portfolio in 1-phase and 3-phase power technology; and dedicated market access through specialized distributors, system integrators and OEMs.
Xantrex will reinforce Schneider Electric’s position in solutions for renewable energies, the company said. The renewable business is poised for continued high growth, with an expected 2006–2012 annual growth rate of around 30 percent for solar and 20 percent for wind.
Demand is expected to remain strong, driven mainly by increasing costs of fossil energies, societal sensitivity to environmental concerns and financial incentives in many countries.